COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Ripple Celebrates Legal Victory Against SEC: A Boost for XRP Supporters
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Ripple (XRP) > Ripple Celebrates Legal Victory Against SEC: A Boost for XRP Supporters
Ripple (XRP)

Ripple Celebrates Legal Victory Against SEC: A Boost for XRP Supporters

In Brief

  • Blockchain company Ripple and its dedicated community are busy celebrating what they consider a significant victory following the latest blow dealt by the US Securities and Exchange Commission (SEC). In the case where the SEC accused Aron Govil, along with two companies he controlled, Cemtrex and Telidyne, of defrauding investors in 2021, a critical development […]
COINTURK NEWS
COINTURK NEWS 2 years ago
Share
SHARE

Blockchain company Ripple and its dedicated community are busy celebrating what they consider a significant victory following the latest blow dealt by the US Securities and Exchange Commission (SEC). In the case where the SEC accused Aron Govil, along with two companies he controlled, Cemtrex and Telidyne, of defrauding investors in 2021, a critical development has occurred. The US Court of Appeals for the Second Circuit ruled that the SEC cannot seek compensation from the defendant without proving that investors suffered financial harm. This decision in the SEC-Govil case has excited Ripple and XRP supporters.

Contents
Court Decision Strengthens Ripple’s PositionDecision Excites XRP Community

Court Decision Strengthens Ripple’s Position

Legal analyst Jeremy Hogan highlighted that the court’s decision in the SEC-Govil case strengthens Ripple’s position. The precedent set by the court allows Ripple to avoid being held liable for any financial losses if an investor purchases XRP at a price lower than its current market value. This puts the SEC in a precarious position and potentially paves the way for a more favorable outcome for Ripple.

Meanwhile, most of the discussions surrounding this legal victory have focused on the heavy penalties that the SEC is seeking from Ripple. Market commentator Yassin Mobarak expressed doubts about the SEC’s ability to enforce its rumored $770 million compensation demand for corporate sales if investors are not significantly affected.

Additionally, XRP advocate lawyer John Deaton pointed to a past case where the SEC’s initial $23 million compensation demand was ultimately reduced to only $130,000. Deaton believes that a similar outcome could be seen in Ripple’s case, allowing the company to successfully negotiate the fine.

Decision Excites XRP Community

Ripple’s General Counsel Stuart Alderoty emphasized the significance of the US Court of Appeals for the Second Circuit’s decision in the SEC-Govil case, which states that the SEC does not have the authority to demand substantial compensation without presenting significant evidence of financial harm suffered by investors. This concept, summarized as “no harm, no foul,” can have a significant impact on Ripple’s legal troubles resulting from the SEC’s actions.

Furthermore, XRP attorney Bill Morgan commented on his personal Twitter account that the SEC-Govil case revolves around fraud allegations and that this fact is evident. Morgan stated that any fair solution presented by the SEC should focus on compensating the victims rather than making gains for institutions or the government.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Discover How XRP Accelerates the Pharma Payment Network in Seconds

Ripple XRP’s Price Swings Keep Market Enthusiasts Hooked

Florida Firm Strengthens Digital Payments with XRP Technology

Ripple Settles Legal Battle with SEC, Bringing Relief and Controversy

Ripple’s Victory in Legal Tug-of-War Against SEC Ignites Excitement

COINTURK NEWS 4 November, 2023 - 1:58 pm 4 November, 2023 - 1:58 pm
Share This Article
Facebook Twitter
Share
Previous Article Mango Markets Attacker’s Trial Delayed Until April 2024
Next Article What is CyberMiles Coin?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Bitcoin Gains Traction in Times of Economic Turmoil
Bitcoin (BTC) Cryptocurrency News
Market Surge Ignites Optimism in Crypto Assets
Cryptocurrency News
Bitcoin Climbs Over Ichimoku: Will Other Cryptos Follow its Lead?
Bitcoin (BTC) Cryptocurrency News
Bitcoin Surges to New Highs as Institutional Interest Intensifies
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?